California’s housing market continued to dominate the nation in May, according to a new report from realtor.com.
The site recently ranked the nation’s 20 hottest real estate markets, and California markets took up half the list, boosted by a tight supply of homes and a growth in demand powered by a booming economy.
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“On the demand side, we are seeing traffic and searches on realtor.com continue to set new highs,” said realtor.com chief economist Jonathan Smoke.
San Francisco and San Jose were at the top of the list, coming in at numbers two, and three, respectively – the same slots they occupied in April. Sacramento, meanwhile, leaped from No. 21 in April to No. 12 last month.
“Sacramento typically follows strong growth in Silicon Valley and the San Francisco Bay Area, as it is a relatively more affordable alternative,” Smoke said. “But this market has strong employment growth above the national average and is seeing strong household growth as a result.”
The 20 hottest real estate markets in May
- Denver-Aurora-Lakewood, CO
- San Francisco-Oakland-Hayward, CA
- San Jose-Sunnyvale, CA.
- Dallas-Fort Woorth-Arlington, TX
- Vallejo-Fairfield, CA
- Boston-Cambridge-Newton, MA-NH
- Santa Cruz-Watsonville, CA
- Santa Rosa, CA
- Ann Arbor, MI
- Detroit-Dearborn, MI
- San Diego-Carlsbad, CA
- Sacramento-Roseville-Arden-Arcade, CA
- Boulder, CO
- Fargo, ND-MN
- Los Angeles-Long Beach-Anaheim, CA
- Austin-Round Rock, TX
- Oxnard-Thousand Oaks-Ventura, CA
- Manchester-Nashua, NH
- Columbus, OH
- Stockton-Lodi, CA
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